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Thailand's Gulf Energy makes $5.4 bln bid for control of nation's biggest mobile operator

BANGKOK, April 19 (Reuters) - Thailand’s Gulf Energy Development Pcl is planning a $5.4 billion bid to buy all the shares it does not own in telecoms firm Intouch Holdings , which controls the country’s biggest mobile operator.

Bangkok-based Gulf Energy, which owns 18.93% of Intouch, said in a filing it had offered to buy the rest of the shares for 65 baht per share, 11% higher than its previous close. That would cost it some 169 billion baht ($5.4 billion).

Intouch shares rose by more than 8% on Monday following the news, while Gulf Energy, which is led by billionaire Sarath Ratanavadi, saw its stock decline by around 3% to its lowest level since early November. ($1 = 31.2300 baht) (Reporting by Patpicha Tanakasempipat; Editing by Edwina Gibbs)

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